KUALA LUMPUR: Malaysia’s “reasonably strong” gross domestic product (GDP) growth has remained its sovereign credit rating strength despite the impact of weaker external demand, says Fitch Ratings. “Malaysia’s 2017 Budget points to further stability in public finances despite another decline in revenue from the oil and gas sector. It is estimated that oil and gas revenue will account for just 14.6 per cent of total revenue this year, down from 30 per cent two years ago. On fiscal deficit to GDP, Fitch said the three per cent target for next year is achievable although it expects deficit to come in at 3.2 per cent of GDP. Meanwhile, Moody’s said Malaysia’s budgetary discipline is positive for the country’s credit profile but cautioned that other issues may put the government’s deficit target for this year at risk.

Source: New Strait Times October 26, 2016 03:11 UTC